Board of Directors: Gustavo L. Garcia, President Jackie Goodman, Vice President Raul Alvarez, Director flUSTIN HOUSING FINRNCE CORPORHTION SSBRSS Will Wynn, Director Daryl Slusher, Director Jesus Garza, General Manager Betty Dunkerley, Secretary Sedora Jefferson, General Counsel BOARD OF DIRECTORS' MEETING AUSTIN HOUSING FINANCE CORPORATION MINUTES THURSDAY, JANUARY 17,2002 The Board of Directors of the Austin Housing Finance Corporation (AHFC) was convened at 2:25 p.m. on Thursday, January 10, 2002 in the Hancock Building Board Room at the Lower Colorado River Authority, 3700 Lake Austin Blvd. The following agenda were the AHFC items considered by the Austin Housing Finance Corporation's Board of Directors. President Garcia called the meeting to order at 2:25 p.m. The Special Called Meeting of the Board of Directors' Meeting of the Austin Housing Finance Corporation (AHFC) was postponed. The Special Called Meeting of the Austin Housing Finance Corporation was postponed. AHFC-1. Approve the issuance of Austin Housing Finance Corporation Refunding Multi-family non-recourse bonds in an amount not to exceed an aggregate principal amount of $9 million and the financing documents in connection with the transaction to refinance the bonds issued in 1985 on the Riverchase Apartments, owned and operated by Riverchase Associates, Ltd., a Texas limited partnership. No Action Taken. CORPORATE OFFICES. 505 Barton Springs Rd. Suite 600. Austin. TX 78704 (512) 974-3103 OFFICE OF CORPORATE COUNSEL, 114 West 7th Street, Austin, TX. 78701(512) 974-2268